Nuveen Asset Management LLC Acquires 1,190,265 Shares of Chesapeake Energy Co. (NYSE:CHK)

Nuveen Asset Management LLC boosted its holdings in shares of Chesapeake Energy Co. (NYSE:CHK) by 116.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,208,493 shares of the oil and gas exploration company’s stock after buying an additional 1,190,265 shares during the period. Nuveen Asset Management LLC’s holdings in Chesapeake Energy were worth $4,306,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CHK. Balyasny Asset Management LLC bought a new stake in Chesapeake Energy during the second quarter valued at $2,353,000. Paloma Partners Management Co bought a new stake in Chesapeake Energy during the second quarter valued at $2,041,000. First Trust Advisors LP boosted its stake in Chesapeake Energy by 1,049.3% during the second quarter. First Trust Advisors LP now owns 928,917 shares of the oil and gas exploration company’s stock valued at $1,811,000 after buying an additional 848,089 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Chesapeake Energy by 47.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,922,828 shares of the oil and gas exploration company’s stock valued at $3,750,000 after buying an additional 616,037 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Chesapeake Energy by 51.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,278,802 shares of the oil and gas exploration company’s stock valued at $2,494,000 after buying an additional 434,200 shares during the period. 68.79% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 price target on the stock in a research report on Tuesday, September 17th. MKM Partners dropped coverage on Chesapeake Energy in a research report on Tuesday, October 8th. Morgan Stanley lowered their price target on Chesapeake Energy from $2.50 to $2.25 and set an “overweight” rating on the stock in a research report on Monday, October 14th. ValuEngine upgraded Chesapeake Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks set a $2.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.05.

NYSE CHK opened at $1.29 on Friday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 2.98 and a beta of 2.45. The stock’s 50-day simple moving average is $1.49 and its two-hundred day simple moving average is $1.98. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.79. Chesapeake Energy Co. has a twelve month low of $1.26 and a twelve month high of $4.86.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, equities analysts expect that Chesapeake Energy Co. will post -0.26 earnings per share for the current fiscal year.

Chesapeake Energy Profile

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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